(9 Apr 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Taipei City, Taiwan – 9 April 2025
1. Various of entrance of the Taiwan Stock Exchange (TWSE) showroom in the Taipei 101 financial tower
2. Various of Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) index shortly after market opens at 09:00AM local time (0100G) with the index dropping 451 points, from 18,459 points to 18,008 points
3. Various of tickers
4. Mid of Taiwan Stock Exchange (TWSE) sign
STORYLINE:
Taiwan’s stock market index (TAIEX) dropped over 450 points Tuesday morning at opening as a reaction to the U.S. government’s 32% reciprocal tariffs and world market.
TAIEX opened at 18,459 points and dropped to 18,008 points at open, making a drop of 451 points shortly after markets opened.
It comes as Asian shares sank again on Wednesday as the latest set of U.S. tariffs, including a massive 104% levy on Chinese imports, was due to take effect.
Japan’s Nikkei 225 index initially lost nearly 4% and markets in South Korea, New Zealand and Australia also declined.
On Tuesday, the S&P 500 dropped 1.6% after wiping out an early gain of 4.1%. That took it nearly 19% below its record set in February. The Dow Jones Industrial Average dropped 0.8%, while the Nasdaq composite lost 2.1%. Uncertainty is still high about what President Donald Trump will do with his trade war.
The sharply higher tariffs were scheduled to kick in after midnight Eastern time in the U.S., and investors have no idea what to make of President Donald Trump’s trade war.
Trump’s trade war is an attack on the globalization that’s shaped the world’s economy and helped bring down prices for products on store shelves but also caused manufacturing jobs to leave for other countries. Trump has said he wants to narrow trade deficits, which measure how much more the United States imports from other countries than it sends to them as exports.
AP Video by Taijing Wu
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